SEOUL, Aug. 13 (Korea Bizwire) — E-Mart Inc. said Tuesday that it plans to raise 1 trillion won (US$820 million) by selling assets as the country’s top retailer is struggling with falling profitability amid increased competition with e-commerce giants here. The company said it plans to securitize its outlets worth 1 trillion won by the [...]
SEOUL, Jul. 9 (Korea Bizwire) — LG Chem Ltd., South Korea’s leading chemical company, will try to quintuple its electric vehicle (EV) battery business by 2024, the company’s CEO said Tuesday, as it aims to become a top five player in the industry. LG Chem CEO Shin Hak-cheol said the company is targeting 59 trillion [...]
SEOUL, Jun. 26 (Korea Bizwire) – BMW AG said Wednesday it will further strengthen its luxury lineup to regain its leading status in South Korea after its sales plunged in the wake of engine fire incidents last year. On Wednesday, BMW began to sell the upgraded flagship 7 Series in the domestic market following the launches of [...]
INCHEON, Jun. 25 (Korea Bizwire) — General Motors Co.’s recent facility investment in South Korea and plans to launch new vehicles show the U.S. carmaker’s strong commitment in the market, a GM executive said Tuesday. Early this year, the Detroit carmaker began to build a paint shop at the Changwon plant, one of its three [...]
SEOUL, Jun. 24 (Korea Bizwire) — After years of struggle in the face of a decline in Chinese tourists and increased competition, South Korea’s duty-free operators are in search of a more stable and sustainable business portfolio — to reduce their reliance on Chinese visitors and generate decent profits. The country’s duty-free business has raked [...]
SEOUL, Jun. 19 (Korea Bizwire) — Samsung Electronics Co. is expected to release its latest phablet, the Galaxy Note 10, in two sizes for 5G models in August in South Korea, industry sources said Wednesday. Samsung’s Galaxy Note 10 will come in two sizes — 6.4 inches for the standard model and 6.8 inches for [...]
SEOUL, Jun. 18 (Korea Bizwire) — It is hard for consumers to live without online and mobile shopping, and for retailers already struggling with a slump in store traffic and the subsequent fall in direct to consumer sales, living up to the trend may be pronounced in the face of cutthroat competition with a slew [...]
SEOUL, Jun. 17 (Korea Bizwire) — For a car to truly drive itself without user control, it needs to be continuously aware of surroundings and make split-second decisions in any situation via the vehicle’s autonomous driving system. As a self-driving car’s system must be based on complex data sets to navigate the road and electronics [...]
SEOUL, Jun. 3 (Korea Bizwire) — Sometimes, in the world of business, the best defense is a good offense, and it seems like Samsung Electronics Co. Vice Chairman Lee Jae-yong wanted to share this message with a handful of key figures at the South Korean tech giant to fend off rising challenges to its business. [...]
SEOUL, May 30 (Korea Bizwire) — KT Corp. said Thursday it will launch an advanced smart factory solution based on its 5G network in the third quarter to raise productivity at local factories. KT said it has been collaborating with local manufacturers and IT solution providers to develop its own smart factory solution, called FactoryMakers, [...]